Initial Jobless Claims Fall, Inflation Explodes , As We Enter a Recesiion Like No Other.
The Atlantis Report
Initial Jobless Claims Fall, Inflation Explodes, As we Enter a Recession like no Other
Premiered 113 minutes ago
For the first time since the pandemic, the number of first-time filers for jobless benefits dropped below 500k (498k to be specific). The number of Americans on some form of government jobless benefit remains above 16 million.
Over 16 million still claiming on all UI insurance. Continuing claims (unemployment) for April are 3.69 million, compared to 3.62 million expected. The real number is one hell of a lot higher than 16 million.
As the dole comes from almost every sector of modern government. How many actual entitlement programs are there,does anyone know...? There are at least 16 million illegals on the dole. Five hundred thousand new claims for unemployment is NOT a sign of a healthy economy.
Why are companies still letting go at such high numbers if the economy is improving? Because it isn't.
Fifty-two million unemployed : 205 Million working age Americans multiplied by 26% unemployment (as per Shadowstats). After the 1929 crash, the unemployment was above 20% for four years.
We have had 20+% unemployment since 2009 by the same measure according to shadow stats.
500k is a level that shows the labor market is shrinking. The economy is still badly impaired. Cries for another stimmy are coming. The economy will be in full delirium tremens in 3 months. Several weeks' worth of data are clear.
For the full transcript go to https://financearmageddon.blogspot.com